Pyramid Technoplast IPO: Pyramid IPO collects ₹27.55 crore from anchor investors; check details

livemint.com:

₹27.55 crore through an anchor book process today (Thursday, August 17). Pyramid Technoplast IPO opens for subscription on Friday, August 18, and closes on Tuesday, August 22. Four investors took part in the anchor book offering, according to the exchange filing of Pyramid Technoplast.

These investors include the Carnelian Structural Shift Fund, the Alchemie Ventures Fund, the Pluris Fund, and the Resonance Opportunities Fund. Pyramid Technoplast IPO disclosed that it has completed allocating 16,59,600 equity shares to these anchor investors, with each share valued at ₹166. This estimated pricing demonstrates the investor confidence in the Company's prospects and market position.

Pyramid Technoplast IPO price band has been fixed in the range between ₹151 to ₹166 per equity share of face value of ₹10 each. The IPO's lot size is 90 equity shares and in multiples of 90 equity shares thereafter. Pyramid Technoplast IPO has reserved not more than 30% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 20% for Non Institutional Investors (NII), and not less than 50% of the offer is reserved for Retail Investors.

Pyramid Technoplast IPO is made up of fresh issue that totals to ₹91.30 crore and offer for sale (OFS) portion aggregates to ₹61.75 crore on upper band price through the Offer. Also Read: Concord Biotech IPO: What does GMP signal about the listing? The net proceeds from the offer will be used to cover offer-related costs as well as the payback and/or pre-payment or repayment, in full or part, of any outstanding borrowings that the firm has taken out. PNB Investment Services Limited and First Overseas Capital Limited are the book running lead managers (BRLM) for the offer.